NIO (NYSE:NIO) Trading Down 2.9% – Time to Sell?

Nio Inc – (NYSE:NIO)’s share price fell 2.9% during trading on Monday . The company traded as low as $4.11 and last traded at $4.20. 17,874,218 shares were traded during mid-day trading, a decline of 56% from the average session volume of 40,601,543 shares. The stock had previously closed at $4.32.

Analyst Ratings Changes

Several analysts recently weighed in on the company. The Goldman Sachs Group downgraded NIO from a “neutral” rating to a “sell” rating and decreased their target price for the company from $4.80 to $3.90 in a research note on Monday, November 25th. JPMorgan Chase & Co. lowered shares of NIO from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $7.00 to $4.70 in a research report on Tuesday. Macquarie downgraded shares of NIO from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $6.60 to $4.80 in a report on Wednesday, November 20th. HSBC lowered shares of NIO from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, Hsbc Global Res downgraded NIO from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.38.

NIO Trading Down 4.4 %

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The company has a 50 day moving average of $4.43 and a 200 day moving average of $4.76. The firm has a market cap of $8.76 billion, a price-to-earnings ratio of -2.78 and a beta of 1.69.

Institutional Trading of NIO

Hedge funds have recently modified their holdings of the company. US Bancorp DE grew its holdings in NIO by 10.6% during the 4th quarter. US Bancorp DE now owns 97,406 shares of the company’s stock worth $425,000 after acquiring an additional 9,298 shares during the last quarter. Delap Wealth Advisory LLC acquired a new position in NIO during the 4th quarter worth $149,000. Handelsbanken Fonder AB boosted its position in NIO by 27.7% in the 4th quarter. Handelsbanken Fonder AB now owns 726,014 shares of the company’s stock valued at $3,165,000 after buying an additional 157,333 shares during the last quarter. ABC Arbitrage SA acquired a new stake in shares of NIO in the 4th quarter valued at $55,000. Finally, Compagnie Lombard Odier SCmA raised its position in shares of NIO by 57.0% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 24,104 shares of the company’s stock worth $105,000 after acquiring an additional 8,750 shares during the last quarter. Institutional investors and hedge funds own 48.55% of the company’s stock.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.